RLX Technology (NYSE:RLX) Hits New 1-Year Low – Should You Sell?

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $1.97 and last traded at $2.0350, with a volume of 883012 shares. The stock had previously closed at $1.98.

Wall Street Analyst Weigh In

A number of analysts have commented on RLX shares. Wall Street Zen raised RLX Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a report on Tuesday, April 21st. Finally, Citigroup dropped their price target on RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, RLX Technology has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Price Performance

The company has a market capitalization of $3.18 billion, a PE ratio of 20.55 and a beta of 1.16. The business has a 50-day moving average of $2.15 and a 200 day moving average of $2.28.

RLX Technology (NYSE:RLX) last posted its earnings results on Wednesday, May 20th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $230.01 million for the quarter, compared to the consensus estimate of $166.99 million. RLX Technology had a return on equity of 6.15% and a net margin of 20.76%.

Institutional Investors Weigh In On RLX Technology

Large investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC bought a new stake in RLX Technology during the fourth quarter worth approximately $26,000. Insigneo Advisory Services LLC bought a new stake in RLX Technology during the fourth quarter worth approximately $29,000. AXQ Capital LP bought a new stake in RLX Technology during the fourth quarter worth approximately $30,000. Dimensional Fund Advisors LP bought a new stake in RLX Technology during the first quarter worth approximately $32,000. Finally, SmartHarvest Portfolios LLC bought a new stake in RLX Technology during the fourth quarter worth approximately $40,000. 22.68% of the stock is owned by institutional investors.

About RLX Technology

RLX Technology Inc (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.